August 26, 2015
Sugaronline | http://goo.gl/XxIINf
MSM Malaysia Holdings Bhd will invest US$259 million for the construction of Malaysia's largest sugar refinery in Tanjung Langsat, Johor, according to Malaysia's Bernama news agency.
A design, engineering procurement and construction agreement (EPCC) was signed on Wednesday between MSM and Sharkara International, an affiliate of Thailand's Sutech Engineering Co Ltd, for a two-year contract worth US$95.7 million.
MSM president and group chief executive Officer Datuk Sheikh Awab Sheikh Abod said the sugar refinery in Johor, the third in the state, is targeted to be fully operational in the third quarter of 2017.
"Once it is fully operational, it will anchor future markets with a targeted production capacity of two million tonnes of refined sugar per year from 1.1 million tonnes currently," he told a press conference in Kuala Lumpur on Wednesday.
MSM holds over 60% share of the country's sugar market.